New product marketing strategy
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1) Gatorade Xtremo is a sports drink produced by PepsiCo that is scientifically formulated to replace fluids and electrolytes lost through sweat during exercise. 2) It provides hydration and energy replenishment through a variety of flavors. Gatorade dominates the sports drink market with a 77% volume share. 3) The document analyzes Gatorade Xtremo's marketing strategy, target market, product demand and life cycle stage, concluding that with PepsiCo's constant innovation, demand for the product is expected to grow significantly over the next five years as it maintains its dominance in the sports drink category.
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New product marketing strategy
- 1. NEW PRODUCT DEVELOPMENT/MARKETING STRATEGY “Gatorade Xtremo Thirst Quencher, PepsiCo. MBA 5101 (Strategic Management and Business Policy) Assignment Columbia Southern University, Orange Beach, Alabama. By Adepitan Fasoro
- 2. Gatorade Xtremo Thirst Quencher Gatorade is a sports drink scientifically formulated to replaces fluids and provide energy to working muscles. It helps to put back lost electrolytes, such as sodium, potassium and chloride The one and only. With a legacy over 40 years in the making. It’s the most scientifically researched and game tested way to replace electrolytes lost in sweat. Gatorade Thirst Quencher hydrates better than water, and replaces lost energy. Some brands of this PepsiCo product are: Gatorade Thirst Quencher-Lemon lime Gatorade Thirst Quencher-Melon Gatorade Thirst Quencher-Powder Gatorade Thirst Quencher-Cool blue Gatorade Thirst Quencher-Orange Gatorade Thirst Quencher-G2, 120z, Perform 02, and Station, Red Gatorade,etc.
- 3. Gatorade Xtremo Innovation Category Gatorade products fall into successful innovations category, because its: 1. Moderately new to the market 2. Its based on tried-and-tested technology 3. It saved money, met customer’s needs, and supported existing practices.
- 4. SUCCESS FACTORS What differentiate Gatorade Xtremo from Competitors. • Uniqueness and superior quality product • Good distribution, promotions, and campaigns of luring customers • Customer and market-driven focus. • Its only sport drink that is thirst quenching • It enhances sport performance • Quality of execution • Good organizational Structure and Climate of PepsiCo. • Excellent speed of delivery: not at the expense of quality. • Well defined innovative product that meet customers expectation. • A well analyzed and result-oriented product
- 5. Gatorade Xtremo Thirst Quencher, target Market • Gatorade products is target towards youth leading an “active” lifestyles. • Who wanted to enhance performance. • Demographics(pre-adults(13-24), Male/Female, social class ABC, singles) • Lifestyle (athletic, sportsperson, active individuals) • Behavior (8 fl oz, before, during or after activity, thirst quenching, prevent dehydration).
- 6. Gatorade Xtremo’s Market Size & Potential Product Demand • The Market size of Gatorade is US$ 5.38 Billion in Sales. Gatorade niches is Us$ 140 Billion. • Gatorade’s Market share is 49% • Company data isUS$3.1 Billion • Customer Usage data is US$ 13 Billion • Competitor data is US$ 7 Billion 300 millions Americans consume at least 2x per day of 12 fl.oz sports drink which costs around US$1.07. The potential product demand for Sport enhancer is in great demand and Gatorade stand tall among al sports drink.
- 7. Product life cycle Stage of Gatorade Xtremo 1st Stage: Idea generation 2nd Stage: Idea Screening 3rd Stage: Concept development and testing 4th Stage: Marketing Strategy development 5th Stage: Business Analysis 6th Stage: Product development (Design) 7th Stage: Test Marketing ( Pilot test) 8th Stage: Commercialization (Launch) Gatorade Xtremo Thirst Quencher, is in the last stage of its product life cycle. It had already launched and commercialized to the market and well accepted in the market.
- 8. Gatorade Product Demand in Five Years • PepsiCo, with brands like Mountain Dew and Pepsi Cola, is the second largest soft drink maker behind Coca-Cola. But in Sports drink category, Gatorade dominates with a 77.2 percent share of the category’s volumes and was the reason PepsiCo bought Quaker. • Gatorade has driven PepsiCo revenue very high • And this product will continue to dominates the sport market segment for a very long time. With constant innovation and new product development of PepsiCo, I see the demand of the product growing outrageously in the next five years.
- 9. References: • Web Chapter A, Strategic Issues in Managing Technology and Innovation, Class reading. • Allan Ray C. Enriquez, 10 Step Marketing Plan for Gatorade, Oct. 2010, Unpublished. • Belinda Anne Tamayo, The 10 Step Marketing Plan for Gatorade, March, 2012, Unpublished.